.jpg)
Vizrt Ltd. to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Vizrt Ltd. to secondary listing on Oslo Børs. Admission to listing is conditional on the company to enter into a secondary listing agreement with Oslo Børs.
The Board authorised the President of Oslo Børs to decide whether the company should be listed on the SMB List or the Main List and to fix the date of the first day of listing, which is to be no later than 23 May 2005.
About Vizrt
Vizrt is the world's leading provider of real-time 2D and 3D graphics systems to the broadcast industry. The company's software suite offers a complete graphics solution including: character generation, content management and newsroom integration, 3D tickers, virtual studio, weather data integration, virtual sports analysis, information display and virtual effects. Vizrt is an Israeli public company traded in Germany on the Frankfurt Prime Standard with trade symbol VIZ and ISIN IL0010838154.The company is headquartered in Bergen, Norway, and has centers in Austria, Israel and the US. With about 130 employees worldwide and more than 300 clients in over 50 countries it reached a revenue of USD 28.6 million in fiscal year 2004.
Oslo Areal ASA to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Oslo Areal ASA to listing on the SMB List of Oslo Børs. The Board agreed to exempt the company from the requirement that a listed company must have carried on the major part of its activities for at least three years.
Admission to listing is conditional on the company’s forthcoming share issue creating a sufficiently wide distribution of its shares in terms of the number of shareholders holding at least one round lot to satisfy the requirements for the SMB List. Admission to listing is also conditional on the company entering into an agreement with Oslo Børs in respect of management companies, cf. section 2-6 of the Stock Exchange Regulations.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 23 May 2005.
About Oslo Areal
Oslo Areal ASA is a Norwegian property investor, investing in office properties in the Oslo area. The company currently owns 17 properties, totalling approximately 195,000 sqm with a value of approximately NOK 3.4 billion. The purpose with the upcoming listing is to supply investors with a focused and liquid security, exposed towards fluctuations in the market for office property in the Oslo area. Oslo Areal also intends to actively trade office properties.
Aker Seafoods ASA to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Aker Seafoods ASA to listing on Oslo Børs. The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years.
Admission to listing is conditional on the company’s forthcoming share issue creating a sufficiently wide distribution of its shares in terms of the number of shareholders holding at least one round lot and free float in the shares. In addition, the company must produce a prospectus that meets the requirements of the Stock Exchange Regulations for a new listing prospectus. Admission to listing is also conditional on the company receiving the necessary exemption from the statutory restrictions on the ownership and negotiability of its shares imposed by the law on participation in fishing and hunting.
The Board authorised the President of Oslo Børs to decide whether the company should be listed on the SMB List or the Main List and to fix the date of the first day of listing, which is to be no later than 23 May 2005.
About Aker Seafoods
Aker Seafoods ASA constitutes the combined activities of Norway Seafoods, West Fish-Aarsæther and Nordic Sea Holding. Aker Seafoods ASA is one of Europe’s leading seafood companies within the areas of harvesting, processing and sale of whitefish. The company has operations in Norway, Denmark, United Kingdom and USA. The Aker Seafoods group had total revenues of some NOK 2.5 bn. in 2004, and has approximately 1350 employees.
Awilco Offshore ASA to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Awilco Offshore ASA to listing on Oslo Børs. The Board agreed to exempt the company from the requirement that a listed company must have been in existence and carried on the major part of its activities for at least three years. The Board also agreed to exempt the company from the requirement for listing on the Main List that the company must have recorded a positive operating result for at least one of the last three years, subject to the company satisfying the other requirements for listing on the Main List.
Admission to listing is conditional on the company producing a prospectus that satisfies the requirements of the Stock Exchange Regulations for a new listing, and the company will be required to enter into a separate agreement with Oslo Børs, cf. section 2-6 of the Stock Exchange Regulations.
Admission to listing is also conditional on the company, at the earliest opportunity and in any case no later than six weeks after the first day of listing, changing the composition of its board by electing a new independent board member and changing its chairman so that the chairman and at least 50% of the members of the board are independent of the company/group of companies that provide(s) management services to the company. It is also a requirement for listing that the chairman of the company and at least 50% of the members of the board must at all times in the future be sufficiently independent of the company/group of companies that provide(s) management services to the company.
The Board authorised the President of Oslo Børs to decide whether the company should be listed on the SMB List or the Main List and to fix the date of the first day of listing, which is to be no later than 23 May 2005.
About Awilco Offshore
Awilco Offshore is an oil service company involved in drilling and accommodation services. The company has two accommodation units both capable of operating in the Norwegian sector of the North Sea and three ultra premium jackup drilling rigs under construction with delivery in 2006 and 2007. Awilco Offshore, successfully raised NOK 1,000 million in new equity in February 2005 which secured financing of the three jackups under construction. Additionally the company has options for a further four jackup drilling rigs at favourable terms.
Violation charge for Carnegie ASA
The Board of Oslo Børs resolved to impose a violation charge on Carnegie ASA of NOK 330,000 for a breach of the duty to provide information to Oslo Børs in respect of its response to questions that arose in connection with the production of a prospectus.
In connection with an increase in share capital by a listed company in autumn 2004, a prospectus was produced with Carnegie as the manager. The transaction was structured in such a way that Carnegie borrowed shares from major shareholders of the listed company and then sold these shares to new shareholders. The company then increased its share capital by a private placement of shares with Carnegie, allowing Carnegie to return the shares borrowed from the major shareholders. A prospectus was required pursuant to Section 18-1 of the Stock Exchange Regulations since the capital increase was in excess of 10% of the company's share capital.
During the course of the preparation of the prospectus, Oslo Børs asked Carnegie for information on how many persons had received an offer to subscribe for/purchase shares in the issue. Oslo Børs raised the question of whether the structure should be seen as a single transaction, giving rise to the need for a prospectus pursuant to Section 5-1 of the Securities Trading Act if the offer to subscribe for/purchase shares was made to more than 50 persons. Carnegie stated on several occasions that the offer had been made to fewer than 50 persons. Following the approval of a prospectus, Oslo Børs became aware that the offer to subscribe for/purchase shares was directed at 89 persons.
The Board of Oslo Børs is therefore of the view that Carnegie failed to provide correct information on the number of persons offered shares, and this represents a breach of the duty to provide Oslo Børs with the information it requires pursuant to the Stock Exchange Act.
This decision may be appealed to the Oslo Børs Appeals Committee. Any appeal must be submitted within two weeks.
